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Our Bureau

Kolkata April 12 Representatives of Zong Shen Industry Group of China and Universal Success met the West Bengal Chief Minister, Mr Buddhadeb Bhattacherjee, on Thursday to discuss the progress of the Indonesian conglomerate Salim Group-promoted Mahabharat Motors Manufacturing Pvt Ltd, eastern India's first two-wheeler manufacturing company.

Speaking to newspersons after the meeting, Mr Prasoon Mukherjee, on behalf of the stakeholders in the project, said the motorcycle project would be set up in joint venture with the Salim Group, Universal Success and Zong Shen Industry Group as partners. He said it would be a technical-cum-equity partnership with Zong Shen taking up equity as also providing the technology for the project.

Mr Mukherjee, however, declined to mention the respective share of the equity stake of the partners in the project. Asked when production work at the project would commence, he evaded the issue by saying that it would begin "at the right time".

The foundation stone of the proposed motorcycle factory was laid at the project site at Uluberia in adjacent Howrah district on February 15, 2006. It was stated that implementation of the project would entail a cumulative investment of $250 million.

The West Bengal Government has provided 65 acres of land to the Salim Group for setting up the factory. Two-wheelers that would be produced at the factory would be sold under the Arjun brand name. In the first phase, the factory would be equipped to manufacture 60,000 motorcycles per annum, it had been stated. This would gradually be ramped up to 5,00,000 units per annum. From 500 people initially, the plant is expected to hire many more workers when it operates at peak capacity.

More Stories on : Foreign Direct Investment | Two/Three Wheelers | West Bengal

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